Separate egg yolks and place them in a medium sized bowl. Whisk the egg yolks with the sugar until they are light and creamy in texture.
Add milk, cream, nutmeg, ground cinnamon and the cinnamon stick to a medium sized saucepan or dutch oven and bring to a low simmer on medium high heat.
Once the milk mixture has reached a low simmer add ¼ cup of the hot milk to the beaten egg yolks whisking quickly to temper the eggs. Continue this process until about half of the milk mixture has been incorporated with the yolks.
Transfer the tempered egg mixture back to the pot and continue to cook on medium heat until the mixture reaches 160F degrees. Remove from the heat.
Stir in the vanilla extract and remove the cinnamon stick. Allow the mixture to cool for about 1 hour and then refrigerate in a large mason jar or serving pitcher until fully cool, about 1 more hour. You can also refrigerate overnight.
Serve in small glasses or mugs with a dusting of cinnamon, nutmeg or both and enjoy!
Notes
This can easily be doubled or tripled for holiday parties.
Spike it with various alcohols, see my tips above.